By Chadd Cripe
© 2012 Idaho Statesman
Boise State and football coach Chris Petersen have agreed to a new five-year contract that will pay him at least $2 million per year.
The State Board of Education will consider the $375,000 salary increase during a special meeting Wednesday. The entire contract will be submitted for approval at the regular Feb. 15-16 meeting.
The information provided to the State Board by Boise State states that the university negotiated the new contract “following this last season” and that it will include a “base compensation package of $2 million in the first year.”
Petersen is scheduled to make $1.625 million in 2012 under his current contract, which was announced at the 2010 Fiesta Bowl and improved in October 2011.
Petersen’s name came up for several vacancies in college football this season.
He has a five-year, rolling contract that provides a $100,000 raise each year. The contract is extended by a year each time the Broncos win at least eight games.
Petersen is 73-6 in six seasons as the Broncos’ head coach. He made $1.525 million plus bonuses in 2011.
Petersen originally signed for $500,000 per year to replace Dan Hawkins in 2006. He has received new contracts in 2007, 2010 and 2012, and his current contract was upgraded slightly in 2011.